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Author Archives: M Akram

Institute of Chartered Shipbrokers Annual Professional Maritime Programme

ATHENS: Against a highly controversial economic background and while Greeks debate the fresh austerity measures, highly educated and trained professionals, once again turn to the seas. The Greece shipping industry, controlling almost a fifth of the world’s shipping fleet and long a source of national pride, is always ready to employ professionals with up-to-date knowledge, skills and expertise. Shipping is ... Read More »

Market turbulence adds to ship owners’ parametres to watch out for future prospects

COPENHAGEN: Ship owners have already a lot of things “on their plates”, in terms of figuring out future market prospects for shipping, ship price trends and thus, making their investment decisions, based on available liquidity and financing. On top of that has come the latest market turbulence, originating from China’s stockmarket. In its latest weekly report, shipbroker Allied Shipbroking noted ... Read More »

GC Rieber Shipping terminates Ceona vessel charter for default

OSLO: Norways’s GC Rieber Shipping has terminated the contract for subsea construction support vessel Polar Onyx, on charter to Ceona, due to a default from the London-based company. The vessel was delivered in March 2014 and went straight on a five-year charter to Ceona, to be used for advanced deep-water operations with Petronas in Brazil. In a release to Oslo ... Read More »

Chinese Tianjin port damages could hit $3.3bn

BEIJING: The total costs of the damages wrought by the giant explosions at Tianjin port last month could be as high as $3.3bn, far higher than original estimates, according to reinsurance specialist Guy Carpenter & Company, part of Marsh & McLennan. The firm said in a report out today it had used high definition satellite images to evaluate how buildings, ... Read More »

Chinnese shipping Cosco Dalian shipyard wins arbitration

BEIJING: A long running dispute between Cosco Dalian Shipyard and Dalian Deepwater Developer has been resolved in the yard’s favour at an arbitration. The pair had been in dispute since October 2013 over a contract to build a DP3 deepwater drillship. The shipowner had served a notice of termination and submitted a request for arbitration in London. The arbitral tribunal ... Read More »

Long Beach Port Updates Sponsorship Policy

NEW YORK: The Port of Long Beach free harbor tours cruise the middle harbor project and under Gerald Desmond Bridge. The Long Beach Board of Harbor Commissioners voted last week to update the Harbor Department’s sponsorship policy. The new policy continues the port’s sponsorship of local groups for community functions to inform residents about the port, but with more emphasis ... Read More »

Port of long beach breaks cargo volume record again in august

LONG BEACH: Another record at the Port of Long Beach as cargo volume once again breaks its all-time cargo volume record for the second month in a row. The Port of Long Beach reported this week that in the month of August, container throughput at the port reached 703,652 twenty-foot equivalent units (TEUs), a 22.8% increase compared to last year ... Read More »

Port of Los Angeles cargo volumes drop in first month of fiscal year 2015

WASHINGTON: Port of Los Angeles said containerized cargo volumes slipped 2.5 percent in July from a year ago, even though cargo traffic rose at neighboring Port of Long Beach. The Port of Los Angeles, the nation’s largest container port, handled a total of 699,127 20-foot equivalent units (TEUs) in July, compared with 717,407 a year ago. Imports through Port of ... Read More »

 Hong Kong port July throughput down 9.5%

VICTORIA CITY: The pace of the falls in container volumes at the Port of Hong Kong seems at least to have slowed a little in July, with a 9.5% fall in throughput to 1.75m teu compared to the 12.9% fall in volumes the month before. However, looking at the raw figures, this is cold comfort as the drop is off ... Read More »

Oslo’s Yilport-operated container terminal to receive two new STS gantry cranes

ISTANBUL: Turkish port operator Yilport Holding has announced that two new environmentally friendly ship-to-shore (STS) gantry cranes made by Finnish manufacturer Konecranes will arrive at its container terminal at the Port of Oslo in the fourth quarter of 2015. The cranes have twin-lift operation for maximum handling capacity, a lifting capacity of 64 tons, and an outreach of 40 m ... Read More »

Zhuhai Port brings in new investors to support energy subsidiary

BEIJING: Zhuhai Port has announced that it has brought in three new strategic investors for subsidiary Zhuhai Gangsheng New Energy Company. The three companies Zhuhai Lingxian Hi-tech Industry Investment Management, Shenzhen CDF Capital and Beijing Huicheng Huanyu Investment will jointly invest up to RMB89.8m ($14.1m) into the subsidiary. Zhuhai Gangsheng New Energy Company was established in July this year after ... Read More »

DP World increases profits after acquisition of logistics firm

UAE: Terminal operator DP World has announced a 22.3% increase in pre-tax profit in the first half of the year compared to the same period in 2014. Five months after the acquisition of logistics infrastructure firm Economic Zone World, the Dubai-based company announced in its interim results that its profit before tax went up from US$432m in the first half ... Read More »

 Cosco orders eleven 19,000 teu container ships

BEIJING: Chinese shipping company Cosco Holdings Co. has agreed to order 11 container vessels, each with a capacity of 19,000 teu, for a total of US$1.5bn in an attempt to cut costs. The ships are expected to be delivered in 2018, Cosco said in a stock exchange statement on Wednesday (9 September). Cosco now becomes the fifth largest global shipping ... Read More »

Port of Auckland considers automation for container delivery

SUNDERLAND: Ports of Auckland could become the first automated container port in New Zealand if consultations with staff on the proposal proceed satisfactorily. CEO, Tony Gibson said: “Auckland freight growth is relentless. To handle it we’ve pushed our performance to world class levels but we’re reaching the limit of what we can do with our current technology. We need more ... Read More »

US Manatee Chamber honors its 36th Small Business of Year

BRADENTON: Four small businesses that clean up aspects of their clients’ lives every day represent the most successful business enterprises in Manatee County. On, the Manatee Chamber of Commerce honored its 36th annual set of Small Business of the Year winners at Renaissance on 9th in Bradenton. The event not only acknowledged a pool of local businesses, but gave small ... Read More »

Long Beach Port Updates Sponsorship Policy

LOS ANGELES: The Port of Long Beach free harbor tours cruise the middle harbor project and under Gerald Desmond Bridge. The Long Beach Board of Harbor Commissioners voted last week to update the Harbor Department’s sponsorship policy. The new policy continues the port’s sponsorship of local groups for community functions to inform residents about the port, but with more emphasis ... Read More »

Port of long beach breaks cargo volume record again in august  

LOS ANGELES: Another record at the Port of Long Beach as cargo volume once again breaks its all-time cargo volume record for the second month in a row. The Port of Long Beach reported this week that in the month of August, container throughput at the port reached 703,652 twenty-foot equivalent units (TEUs), a 22.8% increase compared to last year ... Read More »

Port of Auckland considers automation for container delivery

SUNDERLAND: Ports of Auckland could become the first automated container port in New Zealand if consultations with staff on the proposal proceed satisfactorily. CEO, Tony Gibson said: “Auckland freight growth is relentless. To handle it we’ve pushed our performance to world class levels but we’re reaching the limit of what we can do with our current technology. We need more ... Read More »

Port of Savannah to enhance its cranes with use of process automation technology

NEW YORK: Georgia Ports Authority (GPA) is to extend its use of process automation technology from Identec Solutions to support the operation of new ship-to-shore (sts) and rubber-tyred gantry cranes (RTGs) at the Port of Savannah. GPA will now install Identec Solutions’ automated container hand-off and job promotion system on 30 new RTGs and, for the first time, on four ... Read More »

Founder Group wins ICCI polls for 2015-16 unopposed

ISLAMABAD: Islamabad Chamber of Commerce and Industries (ICCI) has officially announced that the Founder Group has won the ICCI elections unopposed for the term of 2015-16. Nasir Khan was the Chief Election Commissioner (CEC) while Abdul Ghaffar Chaudhry and Muhammad Hussain were acted as members of Election Commission (EC). Atif Ikram has been elected as the President, Sheikh Pervez Ahmed ... Read More »